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Table of Contents
The following table presents selected consolidated financial data for HSNi. The information in this table is not necessarily indicative of
future performance and should be read in conjunction with “Management's Discussion and Analysis of Financial Condition and Results of
Operations,” and our audited consolidated financial statements and related notes included herein. Our consolidated financial statements present
our results of operations, financial position, shareholders’ equity and comprehensive income and cash flows on a combined basis up through the
Spin-off on August 20, 2008, and on a consolidated basis thereafter. However, this financial information does not necessarily reflect what the
historical financial position and results of operations of HSNi would have been had HSNi been a stand-alone company during the period
presented prior to the Spin-off.
For information about the shares used in computing earnings per share, see Note 10 of Notes to Consolidated Financial Statements.
18
ITEM 6. SELECTED FINANCIAL DATA
Year Ended December 31,
2012
2011
2010
2009
2008
(In thousands, except per share data)
Statement of Operations Data:
Net sales
$
3,266,739
$
3,069,356
$
2,884,308
$
2,635,959
$
2,670,878
Asset impairments (1)
—
—
—
—
3,141,767
Operating income (loss)
258,744
239,042
198,803
163,540
(3,057,650
)
Income (loss) from continuing operations
136,497
127,652
100,441
77,309
(2,359,088
)
Net income (loss) (2)
130,675
123,070
98,523
72,488
(2,127,434
)
Income (loss) from continuing operations per share:
Basic
$
2.42
$
2.18
$
1.75
$
1.37
$
(41.97
)
Diluted
$
2.36
$
2.10
$
1.69
$
1.35
$
(41.97
)
Net income (loss) per share:
Basic
$
2.32
$
2.10
$
1.72
$
1.29
$
(37.85
)
Diluted
$
2.25
$
2.03
$
1.65
$
1.26
$
(37.85
)
Shares used in computing earnings per share:
Basic
56,314
58,636
57,414
56,383
56,208
Diluted
57,956
60,689
59,546
57,330
56,208
Dividends declared per common share
$
0.555
$
0.125
$
—
$
—
$
—
Balance Sheet Data (end of period):
Working capital
$
384,868
$
505,901
$
451,406
$
332,964
$
306,354
Total assets
1,331,952
1,394,973
1,345,743
1,218,650
1,152,457
Total debt, including current maturities
250,000
239,111
308,758
338,722
408,528
Other long-term liabilities, including deferred
income taxes
94,988
101,947
100,107
90,372
96,392
(1)
The asset impairment charges in 2008 related to HSN and Cornerstone goodwill and intangible assets.
(2) Loss from discontinued operations for the periods presented includes the income and losses for The Territory Ahead and Smith+Noble,
two brands sold by Cornerstone in 2012, and HSNi’s international subsidiaries that previously conducted business in Belgium and
Mexico.